General Mills, Inc. reports developments across a global packaged-food portfolio that includes cereal, snacks, convenient meals, dough, baking products, ingredients, pet food and superpremium ice cream. Recurring updates cover brands such as Cheerios, Nature Valley, Old El Paso, Pillsbury, Betty Crocker, Blue Buffalo, Häagen-Dazs, Gushers, Fruit by the Foot, Fruit Roll-Ups, Lucky Charms and Trix.
Company news also includes quarterly financial results, outlook commentary, product launches, packaging and ingredient initiatives, portfolio actions, pet-food marketing, foodservice and international activity, leadership and board changes, and global responsibility reporting tied to food, agriculture, environmental and community programs.
General Mills has finalized the sale of its 51% controlling interest in European Yoplait operations to Sodiaal, a move initially announced on March 23, 2021. In conjunction with this transaction, General Mills has gained full ownership of the Canadian Yoplait business and will now benefit from a lower royalty rate for the Yoplait and Liberté brands in the U.S. and Canada. This divestiture aligns with General Mills' Accelerate strategy aimed at enhancing shareholder returns through focused brand management and innovation.
General Mills (NYSE: GIS) has announced the sale of its European dough businesses to Cérélia, a leader in ready-to-bake dough solutions. This transaction includes brands such as Knack & Back and Jus-Rol in Germany, the UK, and Ireland, expected to close by the end of fiscal 2022, subject to regulatory approvals. This move aligns with General Mills' Accelerate strategy, focusing on profitable growth and strengthening their portfolio across key global platforms.
The Board of Directors of General Mills has declared a quarterly dividend of $0.51 per share, payable on February 1, 2022, to shareholders of record as of January 10, 2022. The company has maintained uninterrupted dividend payments for 123 years. In fiscal 2021, General Mills reported net sales of $18.1 billion, with an additional $1.1 billion from non-consolidated joint ventures.
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General Mills announces a collaboration with renowned artist KAWS for the launch of KAWSPUFFS, a new AR game accessed via limited-edition cereal boxes. The first box, priced at $3.99, is available now, while a second exclusive blue box will be released on November 17 for $49.99, with opportunities to win signed editions by achieving high scores in the game. This partnership aims to engage fans through creativity and innovation, further establishing REESE’S PUFFS as a leader in limited-edition collaborations.
Pillsbury has partnered with Operation Homefront to donate rent-free homes to military families, with the first family welcomed into a transitional home in the Dallas-Fort Worth area, just in time for Thanksgiving. This initiative aims to support veterans as they transition back to civilian life, providing them with housing and resources for financial stability. The project will include three homes, with the potential to help multiple families over the next 15-20 years. Operation Homefront has helped over 600 families through similar programs, emphasizing community support for military personnel.
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This winter, Lärabar teams up with Paper Culture to release limited-edition packaging featuring original artwork, celebrating sustainability. Available from November, the holiday collection showcases four indulgent flavors: Chocolate Chip Cookie Dough, Peanut Butter Chocolate Chip, Mint Chip Brownie, and Peanut Butter Cookie. New customers can save $10 on their first Paper Culture purchase. The designs extend to curated stationery and a sweepstakes running from November 1-17 for a Sustainable Holiday Advent Calendar. Retail availability lasts two months, with a 6-pack priced at $6.29.
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General Mills is launching its Tailgate Nation initiative this fall, featuring pop-up tiny house experiences at college football games. These events will offer delicious food, interactive games, and prizes tailored to local teams. The pop-ups will take place at four major match-ups: Purdue vs. Iowa on October 16, Tennessee vs. Alabama on October 23, Michigan vs. Penn on November 13, and Michigan State vs. Ohio on November 20. Fans can also access recipes from brands like Betty Crocker and Chex, as well as participate in contests for prizes including gift cards and team merchandise.